Tahoe Lakefront Update

Tahoe’s lakefront homes are doing what they often do in the middle of winter – not much. There are only 2 in escrow in right now (prices $10.5m and a short sale at $2.9; another lakefront short sale just fell out of escrow). The math says there’s a 14 month supply of lakefronts on the market but things aren’t as bleak as they sound. A lakefront just came on the market in Hurricane Bay which is not listed on MLS and it’s getting a good number of showings; price = $6.5m. Word on the street is an offer just went in on another double digit lakefront. But the most interesting thing behind all of this were the modest numbers put up last November. Five lakefronts went into escrow (and subsequently sold). They were all relatively inexpensive and included a 15-year old, 4 bed place in Carnelian Bay for just over a million (represented by me), and another in Meeks Bay that actually sold for less than a million. A $10.5m listing on Carnelian Bay’s incredible Flick Point is set to close any day; and a short sale lakefront has been in escrow since July 5 last year (yikes!). For more info on any of this info, feel free to get in touch with Alex directly.